welcome to winning streak friday on "street signs." we're in the midst of what could be a six-day winning streak for the dow. more of that slow meltup. but the southern u.s. borders are in the middle of a meltdown. vice president joe biden is in central america now, trying to discourage the rush, and guns, gold and processed cheese? all the things that make america

great are all making market news today as well. we'll have the goods for you. welcome to melissa standing in for brian. >> it's great to be here. we're just about 50 points away from that 17 thousands levels. dom? >> well, that's where the real action is, like you said, melissa and mandy, it is in the energy stocks, one of the leading advancers, but if you look at the overall picture, the dow yes, we are a stone's throw away from the psychologically important 17,000 level, but we have lost some of that steam as we approach the misdemeanor afternoon part of this trading day. you wonder if some are saying this is a pause for the marketplace, we are at least digesting geopolitical risks,

that may be one reason why ear suing a small pike up. if you look at the overall picture, it is up 3%, yes, on a percentage basis, but more importantly, traders are saying this is an indication at least that there might be complacency, a bit of maybe just relaxation in the market and that could always lead to bad things if people aren't vigilant. one thing i would say to watch is the individual stocks that are on the move. we do have some health care names like johnson & johnson and merck, also dupont and exxon mobil helping to lead the way higher. it is still very much a stock picker's market. there are some individual standouts, even though the markets are just about maybe 30 points on the up side for the dow. >> thank you very much, dom. the surge of unaccompanied minors migrating to the u.s. prompting how speaker john boehner today to urge president obama to send in the national guard to help deal with what he

is calling national security and humanitarian crises. this is all as vice president biden heads to guatemala to discuss the causes of the rising tide. afl-cio's president saying we need reform now. media mogul rupert murdoch, reform can't wait. joining us from washington, d.c. and all way from par irss kale bayie hutchison. she'll be joining us in just a second. tamar, great to see you there. i think everyone agrees we do need reform, but we have a crisis on our hands. how do we deal with it now? >> yeah, we've been trying to get reform for ten years and all of a sudden comes this crisis at the same time that the house of

representatives is in complete turmoil because of eric dannors's defeat, in pat, not largely, not even mostly, in part because of immigration, so you have a stewing mix of factors. we've got to do something about these people arriving on the border. it probably can't be 60,000 -- i think the estimate are up to 80,000. we can't say 80,000 people show up and we just let them in no questions asked. we have to have a system that actually works, where we decide who we're going to let in. we have to do something about these people right now. there's children, there's parents, we have to at least house them, make sure they get fed, but figure out what to do with them. the problem is you have this fight for the soul of the republican party going o. the people with the long-term vision, but when you say we've got to figure out what to do. what do we do? if we send them back, you always have the situation that minors could be abused, could fall into

the wrong hands, and to what? if we keep them here it also raises the issue of what kind of status do they have? who pay foss it? >> and we can't just do what we're doing. to try to house the over 100,000 people, it's going to cost u.s. taxpayers. what do we do? >> you're right. we can't do what we're doing do you no, saying it's okay, go ahead to where you're going. >> senator hutchison is here with us right now. great to have you with us. i want to ask you about the situation we do have our hands. it seems like this is somewhat of a disaster that the white house created in and of itself by changing their policies toward they immigrant. how does this change the entire debate, given that especially many of these children under the senate proposal would not have a path to citizenship?

>> well, i think the answer is that we have to deal with this humanitarian crisis, and they do have to be send back at some point. if they are allowed to stay here, of course that is going to cause a mass immigration that could be handled. it's not safe for these children to be out their guardian or family. we need the support of the other governments. i know that's what vice president biden is trying to do, but we also must deal with it in a way that sets a policy that we could have just a mass immigration illegally into our country and then say, well, it's okay, and therefore really invite more mass illegal immigration. >> i agree with that 100%. i think one thing we need to start doing right now is sending the ones we can send back on a short-term basis back, because

that will at least start to quell the rumors. you know, the rumors are going crazy through central america and mexico, just go there and they'll keep you or let you go. so we have to put a clear end to those rumors and start to send the people back who we can send back. i gre, how do we house and feed them in a huge time? huge cost to us, but we have to make clear this isn't just an open door and move on to fix the immigration system. >> senator, what do you propose we do about the root cause here? what kind of role does the u.s. have to play in terms of trying to make sure we have a situation where they people do not want to leave their countries? how do we make their countries a better place to? stay? >> i think that's not our responsibility. our responsibility is to make clear what our -- we can help them grow to be better countries, but our responsibility in the short term is make clear signals what we're

willing and not willing to do. >> senator? >> i think these countries need to see their people are fleeing, and they need the policies in place. they need an ed indicatiucation for their people, so people want to live in their countries. obviously we would like to be helpful in doing that. i'm sure vice president biden is offering help to these countries to build their systems and economies, and now we have to have a policy that says we can't accept illegal immigration. i think there has been a massive misrepresentation, and i think that these people who are promoting this are making money off these poor people and we've never had a situation, of course, before where un'companied minors are crossing the border.

these leaders and these other cunning, the central american countries need to take responsibility for the safety of their own people. >> we have to address the root cause as well. thank you both for joins us today. let's get to morgan brennan. what are you watching? >> check out radio shack, the stock falling beround a dollar a share for the first time in its history. keep in mind the new york stock exchange can delist a stock if it closes below $1 for 30 consecutive trading days. get this, the all-time high is $79.50, set in december of 1999. nearly three times the normal trading volume, the stock currently trading down. mandy, back to you. >> thanks, morgan. >> the group that's marching to bag gad has already threatened new york, so does security trump economic when is it comes to iraq right now? we'll discuss that, next.

motor vehicle motor vehicle joins us now from iraq. the leader of the i.s.i. group has already threatened america, hasn't he? >> reporter: well, when he left an iraqi detention center, his last words were "i seal you in new york." that's in a story from "the

daily beast" who interviews a former guard in that camp, and he said when al baghdadi left the detention center, he said i'll see you in new york. at the time he thought it was a joke, because he lived in new york and didn't think he razz a very remarkable individual and certainly didn't think he would rise to the position he has, still mayor de blasio has said, don't worry, we remain vigilant. but the concept of whether they could turn around and hurt western countries, conduct an attack like we have seen in the past, and of course september 11th -- it was raised by the president going through the rationales for why it would be okay to conduct targeted military actions and put 300 millnary advisers in this country, because it would be in the self-interest and self-defense of the united

states. in fact the leader of the intelligence services here lahore talabani told a british crew their intelligence tells them that 500 of these jihadists are from great britain, one of our colleagues from nbc news also spoke with mr. talabani saying three of them are likely from france. they want passports where they could move about the world in an easier way, and it raises questions about whether the greater threat isn't necessarily about oil, but once again about the national security of the united states. >> a very good point, one we'll bring up with our guests, who is damon phillips. he's also a cnbc contributor. david, thank you for joining us. a great piece running right now called the end of iraq, so our question is, is iraq as we know it, over? >> it's been over for a long time. iraq is a failed state. mr. malaki, the prime minister, hasn't had any kind of inclusive governance. we're talking about a political

solution, and we should be talking about a salvage operation. >> meaning what? >> how dough break up the country and identify core interests? the kurds will be or best and last friends. it's an oil-rich part of the country. we should be focusing there. >> how would that be taken, accepted by that part of the world, where we stepped in and said that because we want to protect our core interests. >> it's not something we would decide. events will overtake anything that washington wants to do iraqi will have to sort themselves, about you with the shia and sunni at ward, the kurds will be the last group standing, and we have to have a plan in place to recognize and work more closely. >> i hate to say there, i can't help but thing we've put so much money into iraq, trillions, at least? so many lives have been lost, so many american lives, other countries, including australians, what if we got out of all of this? >> we thought we said decapitate

the regime of saddam hussein, and turned it into a model democracy and that could -- the exact opposite has proven to be true. we shouldn't forget he was a terrible dictator who used chemical weapons against his own people and iran, but we never had an effective plan for managing the post war period. all the problems we talked about before the iraq war are the same problems we see today and they're the root of the conflict. >> the markets are telling us, you look at the move, it's a second weekly gain, but still many say it's not nearly up as much as if the fighting can moved further down to the south is it telling us that perhaps the situation won't deteriorate further? >> so the two centers of oil an gas in iraq are in the north, in kurdistan, and in the south, where the shia are in control. so the fighting in anbar and the sunni region really doesn't affect that. it hasn't affected the energy

transports. there's been a lot of news reporting about fighting at baiji, which is the oil processing center, but that's for domestic consumption. there's been no reduction in energy exports as a result of this fighting. >> so as michelle was alluding to, are we correct to move our focus to what does it mean for our national security? >> in syria, there are 5,000 foreign fighters, all of whom have international passports. many of them are with i.s.i.s., they are learning terrorist skills in the battlefields, and they will take that home. this represents a real risk to western countries. >> what do you think -- how far does it have to go in iraq for it to come here to this country, to the u.s. in terms of the terrorist operation of some sort? >> so the tipping point is always unpredictable, and when these jihadis start to my great back to their home countries is also unknowable, but we have to

start monitoring who they are and their travel so that when this round of fighting stops they don't move back to the mainland and start attacking u.s. interests. >> is it a good or bad idea to work with iran on this? >> iran is a player, we can't ignore them, but ran will do what's in iran's interests. it will never do what's in iraq's interests or in america's. >> thank you very much, david. once again your comment tear is on cnbc.com, called convex the end of iraq." still ahead, are we breadstick'd out? declining sales at olive garden. what else can they try? it's a brand-new roller coaster opening at six flags in illinois. it's at an 85 degree angle, nearly straight down. even the video makes my stomach queasy. we will show you what it is like, coming up. might have a song that he has in his head

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breadsticks? let's bring in bob darington. i love more than you can eat breadsticks as much as the next guy, but it seems to not be working anymore. this goes a talented management team, but unfortunately for this company, they're fighting systemic trends in the industry, where there's not only a lot of competition directly for their brands, but also the fact that consumers don't have as much money as they've had in the past and two many fast casual restaurants coming on. >> what do you think of the proposal by the activist investors that are in there. they're getting rid of red lobster, so tarboard, bering ton, they're in there, they say they should separate the smaller changes, and then also put the real state into a separate holding. would that be the solution, in your view? >> what i would say is if they truly do believe that, then let them make an offer and let the

company go private. i'm from missouri. show me. that seems a little out of whack, even compared to its peers. >> well, you know, when you look at the core business, there are underlying pressures, whether it's commodity priced pressure, whether it's giving value to the consumer, and especially provides better service to their customers. they need to deliver more to drive customer traffic in on a sustained basis. the fact they've had negative traffic trends for the last five consecutive years, they have to buck that trend. under they do, this stock will continue to struggle. >> you were saying a moment ago that the entire sector is under fire here, the entire casual dining sector is experiencing weak sales.

is there any particular player in the sector that stands out as nonetheless doing things better than the others? >> yes. you know, mandy you've heard me talk before about buffalo wild wings, red robin. these companies have much better industry same-store sales trends. they're connecting with consumers, unlike what darden has been able to do with their core business. that's the biggest difference i see. >> bob, thank you. >> my pleasure. could there be a cheese crisis in the midwest? kraft foods is recalling 260 cases of velveeta cheese sold to walmart stores mostly in the midwest. why? because they doesn't have enough preservatives, ascorbic acid. you know, people are going toward nonmodified food, but velveeta is being recalled because there's not enough of it. >> in this extensive research. i did read about the cheese that is being recalled, and the

cheese that's being recalled, the expiration date on that cheese is -- december 17th, 2014. >> really? december 17th, 2014. >> wow. >> so el yeah, it doesn't have enough to preserve is until december 17th of this year. six months from now. >> unbelievable. >> okay. >> gel new velveeta and save it until december. pope francis coming out strongly. he says attempts to legalize recreational drugs are not only highly questionable from a legislative standpoint, but they fail to produce the desired effects. he's spoken before about what he calls the evils of drug addiction, but it doesn't seem to be working. we know marijuana is now legal, but also. >> why is carl icahn investing so heavily in a family

dollar? we'll be talking numbers next. but check out this hot exchange between paul ryan and the i.r.s. commissioners. >> this is unbelievable. you learned in february that this crashed. >> i did not learn in february there was a crash, and we told you on monday -- >> i'm not asking a question, i'm making a statement. >> my apologies. >> you are the internal revenue service. you can reach in the lives of hard-working taxpayers and with a phone call, an e-mail or letter, can turn their lives upsidedown. you ask taxpayers to hand us seven years of their personal tax information in case they're ever audited, and you can't keep six months worth of employee e-mails? this is being misleading again. this is a pattern of abuse.

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past month, really had an amazing month. it does remain nonetheless an outperform. >> take a look at coach sinking even further today, downgrading from a mark perform. these are four-year lows we are talking about. the targets is also being slashed by $26 you see down from 56 to 30. you can currently see they're at 34 and change. the plan for transformation, you know, it encompasses many moving pieces essentially, which makes it difficult to have visibility. the stock has dropped almost 38% over the past 12 months. >> tibco software, a downgrade, maybe not a surprise after what oracle had to say. >> they say the disrupt ink shifts to a descriptive model. the target is also being cut. so about 21% down side seen from here. >> we're watching pier one, this is a new 52-week low, downgraded from a whole to a buy.

>> the firm cites a lack of visibility. they also say there's a slowing brick-and-mortar comps issue and the impact of e-commerce investment. the target is being cut to $18 for over 33% down side, stock dropped almost 30%. >> and a new 52-week high for under the radar stock of the day. that would be esther line technologies, a specialized manufactured company. markets upgraded to a buy from a hold. >> that's right, the ticker is esl, and the firm says esther line is in significant development. the target has been bumped from 112 to 138. so seeing the stock has gone up almost 67% in the past year. >> okay. >> let's talk family. carl icahn is calling for the company to be put up for sale immediately. family dollars responded by saying if, it's open to constructive communication with

shareholders. so is the stock worth your dollars, and will icahn get hi way? let's start talking numbers. mark, technicals, please. >> it looks like a discount on a charts. so a lot of this move seems to be baked into the share price this morning. it's gotten overbought. you do see an eight-month trend line that was broken, exceeded when the stock recently gapped. we did see an acceleration in volume and expansion, and the stock has moved a very long way in a short period of time. so it's gotten very overbought at these levels. you see nearly a four-year up then.

so the recent move has taken the stock back, so it's not necessarily bearish, just showing a bit of a slowdown, and now it's gotten very overbought in the short run. my thinks is up side is limited, not likely to get over 75, from a purely technical point of view. i wouldn't be buying a stock here. >> to that point, chad, a lot of people saying on a valuation basis, fdo is not cheap, so part of the thesis to buying this stock has got to be that somebody could actually come in and buy it. who could be a buyer? >> well, i agree with carl icahn. a strategic buyer can certainly come in, a dollar general or perhaps dollar tree. i don't see a financial broad buyer like a private equity firm coming in, the stock is trading substantially below their competitor. so, for example, sales to enterprise value is roughly about 0.7 to 0.6. when you look at dollar general,

you're looking at sales to enterprise value 1.1, dollar tree is 1.2. when you look at profitability, let's just say it's woefully disappointing, comparing it to its competitors. operating margins of 6%, where you have operating margins on dollar general around 8.5% and dollar trees at 12.5%, so a strategic buyer could come in. now, management, let's just call them, well, just not amazing. it hasn't been an operating performs story for quite some time. therefore you can see why carl icahn is saying let's merge two companies together. they've been hampered by a plethora of issues, one, merchandising has poor, also the other thing is competition. price competition by the other two is killing them on their bottom line as well as on the top line. >> so i would say 15 to 20% up side if carl icahn gets thinks wish. >> all right. going to leave it there, guys. diversion of opinion there.

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a big article on cnbc.com that a lot of you have been reading. confessions of a finance adviser, the man who wrote it will join bill griffeth coming up on "closing bell." it's a really good read. i'm sure there's some interesting things to ask as well. >> this is james sanford, the founder of a sag harbor advisers, and he's pointing out there will be some financial advisers compensated by the mutual funds companies that they steer their clients' monies to, as he would put it a kickback. not surprisingly, it's not how his firm is compensated. but he says, look, if you're going to do this, at least you should be telling your clients

about it. many clients do not realize this kind of compensation guess on there. >> doesn't this go directly in the face of the rule that governs certified financial planners in that you have to act in the fiduciary duty to your clients? or had sell alleging they're lined up somehow with the best interests of the client? >> what he's suggesting is that there will be times when a financial adviser will place money with a mutual fund that is not appropriate for their customer simply because they were being compensated. i'm going to ask him about that. how far-flung can you go? are you going to put, you know, something who needs total income right now into a risky futures contract? i don't think so. >> and he gets quite specific, doesn't he, in terms of recommendations? he says this is exactly what you snead to ask your financial planner? >> absolutely. >> to give you an answer that is like, no, no, no, we're not getting any kickbacks, he says this is the next step you need to take, you need to get to the bottom of this. he says don't be shy.

>> as usual do your homework beforehand. as i'm going to tell him, i think at the very least, if you'll have this kind of arrangement with the mutual fund companies, at least tell your clients about t. and let me decide whether or not i want to go with you as a financial adviser. that's what it's all about. >> an interview that ought investors need to see. >> and everybody is reading about it the sarah is with me on "closing bell." we'll see you at the top of the hour. >> thanks, bill. apple reportedly going to launch a smartphone this this fall. joining us from san francisco, ina freeh, alsodom chu is with us. >> ina. apple does what it does, and it doesn't necessarily have to be first to the mart. it wasn't the first with the ipod, yet when it came to the market, it seemed like it was late, but it saw what everybody else was doing and actually put out the best product on the market. is that what it's going to do here with the smart watch? >> that's certainly going to do what the market -- the market as

down what apple wanted them to do, flail around a bit. they really feel like smart phones strapped to our wrist. i think the question is, do most people want anything on their wrist? but i think there is an opportunity, if somebody can figure out, what would we want on our wrist? now what can we put on the wrist? >> that's a good point. dom, you are the perfect target audience, i think you bought a fitbit, wasn't exactly what you wanted. i'm sure you're the kind of guy that's waiting for a sort of iwatch to come out. >> i am the perfect consumer. i did have that fitbit. i also have a fitbit for my dog. >> i love gadgets and my gears. >> a fitbit for your dog? >> she gets more exercise than i do. >> is he looking to upgrade to the iwatch? >> what do canines say about the iwatch, dom? >> i will tell i my dog, lucy, a

12-pound havanese, but she's there is fashion conscious. i think that's what the iwatch will be about. i wear a watch only because it still tells time. my kid brother does not even wear a watch anymore, because my question is, can you makes it sexy enough that people will want to wear it as an access our. the best part about my fitbit want that it tracked any more of my steps, but it also showed how well i slept, so if this new sensor can tell me more about my health, i might be inclined, ease federally if it looks nice. >> i think dom gets to the point there's a whole new world, ability to, for instance, monitor your glucose levels

without ricking your finger. there's so much potential here. >> dom hit at two things. one, it can't look as bad as some of the early ones have looked, and two, it's got to do something useful. clearly sensors are the answer, measuring all kinds of things. i think others will try to hit on what are the right things to be measuring. the other tricky thing is you want get too far down the health plan, or the fda wants to get involved. so glue comonitoring gets into regulatory. fitness you're safe. if you get too far into health, then. am i right in thinking that's not obviously the official name, because apple is not commenting on this. it could be something else, and it is error are suggesting mass introduction in july, ready for an october launch. those are the same things you're

hearing? >> we reported about a monthal it would come in october. they will be testing different screen sizes, so take everyone where a grain of salt. ina and dom, thank you both. everyone have stylish and. >> i didn't even know to put a fitbit on an animal. i don't know how does it get through the fur? >> all good questions. smith and wesson misfires on the quarterly numbers. the stock is down big today. is the gun run oemp? plus don't tell these markets about the summer doldrums. are we getting closer to the 17,000? i guess not all of wall street is at the hands of this -- see you in a sec.

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take a look at shares of radio shack, trading below a buck a share for the first time ever. earlier this month it came out with a terrible, terrible quarter, and some lashed even a zero dollar price target, here it is, down 9%. still under a buck here. >> well, shares of smith & wesson are down 9%, earnings and revenue both beat the street expectations, but sales were slightly below last year. here's the thing that i see hurting the stock today. guidance is much lower than what analysts were expecting, on both the top and bottom lines. the stock down 9% as a result, but the stock is un469% over the past three years. naturally because sales have been booming. did we expect it would slow down at some point? i don't know. it's an american thing, i guess. whenever you have gun vile nsz, everybody immediately responsibilities with more guns. very foreign to us in australia. >> you think there will an up

tick in violence, so the laws will be harsher, so there's a rush to get them, so that's tougher comps. >> absolutely. the fed seeming a lack of concern. the precious metal saw the biggest weekly gain in four months. can we justify a sustained move higher? joining us is george garoe at rbc capital. a lot of people say this was a short-cover rally, so it's not sustainable. what's your take? >> oh, no, i think this is totally different. first, i think this is a prepricing of gold. i believe the last time i was on this show, actually, with messily, it was very interesting. we were below the 1300 area, and i talked about too many bears in the woods. i think that was interesting that it turned out that we finally had this rally that call the fund's eye. >> what's so different now? >> ah, yes. from the last time i was here to

today, we've had a number of things coming together to give this a new meaning. number one, before, we only had russia and ukraine, which meant that with sanctions there could have been a possibility possibility of russia not exporting material. namely platinum. rockets. and then of course we have a major problem with iraq that also kept crude oil from selling off and in fact going way up. every $10 in crude oil means at least 25 cents in your local pump. now we have the possibility of inflation as the fed, the other night said just wednesday night the fed said hey, we're willing

to go with longer term low interest rates. >> we're running out of time. where do you see gold hitting to? >> we repriced to about the 13, 13.50 area. i think we will see there's a need as portfolios have been woefully underinvested in the funds as the money moved out of gold into what we feel are equi equities. let's talk about pmi, annual had a meeting just now. we expect a $300. we have got 750. >> george, thank you.

>> let's talk about what is really going on. chief investment strategist ray monday james. we're calling it a melt up. just little bit by little bit. and yet we're inching closer to 17,000. where do we go from here? >> i don't think it's a melt off. melt off is what happens at gold. you know, when you had the reversal back on april 15, i was on your show shortly therefore. s & p had a reversal. we're up here. we're overbought.

>> have got to get into stocks and got to get in. that doesn't seem like a good reason to buy stocks. it certainly doesn't seem to indicate strongholders of equities. clearly well managed to date helps the fact that we're in between earnings seasons.

>> over the weekend it looks like isis has diverted its attention from bagd to the most holy city in iraq. i don't know if that's going to happen but it certainly has the potential now that they're focused. >> unless we get a spike in the price of oil, i think it's going to be non-impactful. if you get a spike, it's going to be impocketful in the u.s. >> thank you very much for joining us. have a great weekend. >> you bet. >> we have been teasing you all show with the video of a giant

new roller coster in illinois. we are putting mandy on the coaster. >> no we're not. >> no, but we will show you what's like to ride in the first car of the coaster that drops 180 feet practically straight down. stay tuned. ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ [ birds squawking ] my mom makes airplane engines that can talk. [ birds squawking ] ♪ my mom makes hospitals you can hold in your hand. ♪ my mom can print amazing things right from her computer.

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>> john lhe loved the congressy tonk sound of this piano so much that he worked out many of his songs there. and guys you have got to look at this. elvis's favorite peacock suit has rhinestone and gold lamae.

it has not been cleaned. elvis sweat included. >> i wonder how much the sweat alone would be >> and melissa, thank you very much. >> the closing bell is next. see you on monday. >> and welcome to the closing bell on friday. hello, sarah. >> hello. happy friday. sarah ivan here. at the new york stock exchange where this hour we will find out whether history will be made. the douw threatening to close a an all time high.